Litecoin (LTC) has caught the attention of investors with a 15% price increase in the past few hours. This surge follows positive sentiment in the market after the FOMC meeting, along with growing optimism surrounding a potential Litecoin ETF approval. Additionally, rising trading volume and increasing network activity are contributing factors to LTC’s strong performance.
Why Is Litecoin Rising?
The recent FOMC meeting, where the Federal Reserve decided to keep interest rates unchanged, has provided a boost to the crypto market. Bitcoin saw a 3% uptick, and Litecoin followed suit, climbing to $125.90.
Another major catalyst is the growing anticipation around a Litecoin ETF. The SEC’s progress on ETF applications and positive analyst commentary have reinforced investor confidence, fueling the latest price rally.
Key Technical Levels
Litecoin’s daily trading volume has surpassed $2.85 billion, and over 122,000 new wallets have joined the network in recent days. From a technical perspective, LTC has broken out of its downtrend and entered a bullish phase.
- Support levels: $109.06 and $99.36
- Resistance levels: $135.94 and $162.12
If the current momentum continues, Litecoin could push toward $158.92 and even test $196.34. However, a potential retracement could see LTC revisiting $99.36.
Final Thoughts
Litecoin’s latest rally is driven by both macroeconomic stability and increasing investor confidence. However, given the volatility of the crypto market, traders should keep a close eye on critical price levels.
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